SPECIAL FUNDS
Fund 271: IRVINE BUSINESS COMPLEX FUND This fund was established to account for fee revenues generated by development activity within the Irvine Business Complex (IBC) area of the City and to track infrastructure spending within the same area. Over the years, the City has received various grants from state, county, and federal agencies to supplement its fee revenue in the development of infrastructure projects within the IBC area. For FY 2019-20 and FY 2020-21 new appropriations include: Harvard/Michelson Intersection Improvement, $2.2 million; IBC Sidewalk Improvements, $2 million; Culver/Alton Intersection Improvement, $0.9million. In addition, $0.8 million is allocated annually for the following: preliminary studies, environmental clearance, and consultant support for the traffic and park plans within the IBC area. Annually, 10 percent of the previous fiscal year’s IBC Transportation fees are transferred to the Transportation Management Program (TMP) fund to support the goals and objectives of this program. In FY 2019-20, and FY 2020-21, approximately, $0.2 million are transferred to the TMP fund each fiscal year.
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FY 2019-21 Proposed Budget
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